Savings Account FAQs & Basics
Checking Accounts vs. Savings Accounts: What's the Difference? Learn the differences between a checking account and a savings account. Compare their features to determine which account may be better for you right now. Building Savings vs. Pay Down Debt: Which is Better When You Have Extra Cash Find out whether you should prioritize savings or paying down debt when you have extra cash available to improve your financial situation. NCUSIF Deposit Insurance: How Your Money in Credit Union is Protected Learn about deposit insurance at credit unions provided by the NCUA and NCUSIF, which act similar to FDIC deposit insurance coverage for banks. What is a Sinking Fund? How to Use It as Part of Your Budget Learn about the concept of a sinking fund and how you can use it as part of your budget to avoid taking on debt for planned major expenses. How Much You Should Save Up to Pay for Graduate School Tuition Find out how much you have to save if you want to pay for graduate school tuition, board, and other living expenses without taking on more student loan debt. Ultra Short-Term Bonds vs. Savings & CDs: Which Offer Better Returns? Learn how ultra short-term bonds compare to savings and certificates of deposit (CDs) based on returns, cost, taxes, and risk of losing your money. How to Prepare Financially and Save for Maternity Leave Find out about how you can prepare financially and save for maternity leave as pregnancy enters the final stages -- preventing you from working for many weeks. How to Set Up a Savings Account for a Teenager Learn how to set up a savings account for a teenager, who is legally not allowed to open a bank account individually, and ways to help him or her build savings. 529 Plan vs. Coverdell Education Savings Account (ESA): Which Is Better For Future Education Expenses? Learn the differences between 529 college savings plans and Coverdell Education Savings Accounts (ESAs) when it comes to saving for your child's education. How to Keep a Secret Bank Account Find out what you need to do in order to keep a secret bank account from your spouse, parents, and family members for the sake of financial independence. Foreign Bank Accounts: Reporting & Tax Rules That You Have to Worry About If you have (or are thinking about) a foreign bank account, learn about the rules regarding reporting and taxes to ensure that the IRS doesn't come after you. Should You Consider a Safe Box For Your Home? Find out whether you should consider buying a safe for your home to protect your non-monetary items that are of great value, including jewelry and documents. How to Set Up a Wedding Savings Account Learn how you can create a the right savings account that will help you establish a wedding fund, including what account to pick and how to stay on track. Can You Pay Bills Directly from a Savings Account? When your only remaining option for making a bill payment is to use a savings account, find out whether you can do it at a moment's notice. 4 Savings Strategies for People with Low Income If you don't have high income, learn about the different ways that you can still build up your savings to reach your financial goals.